Stockholm, 2015-02-11 08:00 CET (GLOBE NEWSWIRE) --
- Net result for the period was USD –127.45 million (mln) (January 1, 2013–December 31, 2013: 364.63). Earnings per share were negative (USD 4.10). Net result for the quarter was USD 1.07 mln (October 1, 2013–December 31, 2013: 390.07). Earnings per share for the quarter were USD 0.01 (4.34).
- The net asset value of the Company was USD 388.47 mln on December 31, 2014 (December 31, 2013: 633.97), corresponding to USD 5.24 (December 31, 2013: 7.05) per share. Given a SEK/USD exchange rate of 7.8117 the values were SEK 3,034.62 mln (December 31, 2013: 4,126.10 mln) and SEK 40.95 (December 31, 2013: 45.89), respectively.
- The group’s net asset value per share in USD decreased by 25.65% over the period January 1, 2014–December 31, 2014. During the same period the RTS index decreased by 45.19% in USD terms. During the quarter October 1, 2014–December 31, 2014 the group’s net asset value per share in USD increased by 0.28% (RTS index: –29.63%).
- During the fourth quarter 2014, Vostok Nafta repurchased 767,818 SDRs (shares). The number of outstanding shares at the end of the year was 74,097,331.
- GetTaxi mandatory convertible loan with annual interest of 8% was converted into equity in December 2014.
- The reported net asset value per share of Vostok Nafta as of January 31, 2015 was USD 4.58 (SEK 37.85). Following the amended Avito valuation method in this report, the net asset value per share of Vostok Nafta as of January 31, 2015 was USD 5.14 (SEK 42.52).
- As Vostok Nafta’s investment portfolio mainly consists of unlisted assets, the valuation of which typically is more static than listed assets which are actively traded, the Company has concluded that its monthly Net Asset Value (NAV) reports do not provide meaningful information to the market. For this reason, the Company has decided to discontinue the previously published monthly NAV reports and instead publish its NAV exclusively in connection with the Company's interim reports.
The company will host a telephone conference with an interactive presentation on Wednesday, February 11, 2015 at 16:00 Central European Time (CET). For call-in details, see separate press release issued Thursday, February 5, 2015 at www.vostoknafta.com.
